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The gaming industry has seen immense growth and advancement in recent years. New technologies in the gaming industry have paved the path for enhanced trends in the gaming experience. In the modern gaming industry, advanced technology applications such as augmented reality, virtual reality, and cloud gaming are used. Integrating blockchain technology in the gaming industry has led to play-to-earn games(P2E) genesis.
Play-to-earn games are a 21st-century trend that allows gamers to enjoy the gameplay experience and earn real-world rewards and digital assets. These play-to-earn games are lucrative and addictive since they are entertainment and passive moneymaking opportunities. The gaming community considers and believes that the future of the industry will be in the hands of play to earn games. This article aims to provide detailed information on play-to-earn games.
What is the Play-to-Earn Game?
Play-to-earn games are a new category of video games in the 21st century. Gamers can earn real-world rewards from these games. Cryptocurrency and NFT are usually awarded as the rewards. These kinds of games are a little different from conventional games. Gamers used to invest their time in games to get the in-game rewards that have nothing to do with the real world but these play-to-earn games offer provision for earning digital assets by playing.
Gamers can use P2E games as a passive hobby to make real-world assets and revenue. Blockchain technology is the underlying technology in play to earn games. This technology is responsible for the creation and ownership of digital assets. The provision for financial gain is the sole reason for the increased popularity of P2E games. People can rely on these games to earn some passive income when their traditional jobs do not provide them enough.
How do play-to-earn games work?
Traditional games and play-to-earn games differ in functionality. Play-to-earn games have unique features when compared to traditional games. So the working principle of traditional games and P2E will be different. In these P2E games, gamers will be able to get real-world rewards by completing certain in-game tasks and activities. The tasks or activities may include completing quests, battling events, crafting items, etc.
In-game task completion analytics will reward gamers. The gamers will get cryptocurrency and non-fungible tokens(NFTs) as the reward for task completion. After successfully acquiring the rewards, these digital assets can be traded and sold. They can even use these assets outside markets.
The earned digital assets from the P2E games hold real value and players can sell the cryptocurrencies and NFTs and exchange them on the reputed crypto exchange platforms. These coins and tokens can be converted into real money or fiat money.
Important features of Play to Earn Games
We have already mentioned that play-to-earn games are entirely different from traditional games. This section deals with the exclusive features of play-to-earn games that give greater significance to the gaming industry.
Monetization
It is the key feature that differentiates P2E games from traditional games. Gamers can earn cryptocurrencies, NFTs, and other rewards which has real-world value. These digital assets can be converted into fiat money via exchanges.
Engaging gameplay
Like every other game, P2E games too have engaging gameplay and gaming experience. Gamers will be given different kinds of tasks and activities as the game progresses.
Decentralization
These games rely on the blockchain technology. Users control every transaction in the decentralized blockchain system. In P2E games, players control all the game accessories and assets. There will not be any single authority to monitor the game’s progress.
Transparency
Blockchain technology ensures that all the transactions involved in the P2E game are transparent and all the users have access to the in-game data.
Asset ownership
Players have complete autonomy over the acquired in-game items. They can sell and trade these items in any external exchange.
Role of blockchain technology in Play to Earn games
Blockchain technology is the backbone of the play to earn games. All the unique attributes and features that P2E games possess are because of blockchain technology. Blockchain technology ensures transparency and security in the play-to-earn gaming system. This technology offers a lot to the P2E games apart from transparency and security.
Interoperability is the key advantage of blockchain technology in the gaming industry. Gamers can use the assets and rewards on different platforms and different games. This will result in a more interrelated gaming community. Gamers will be able to transfer their assets from one game to another, this will open up a futuristic gaming experience in the gaming industry.
Blockchain technology enables the decentralization in P2E games, the conventional games will be controlled by a company or single entity but P2E games are controlled by the users themselves. The lack of a centralized agency will enhance gaming freedom and enable community-driven development. The gamers will have the utmost authority over their possessed tokens and NFTs. The unmatched transparency in P2E games is the result of the integration of blockchain technology.
Popular Play-to-Earn Games
- Axe infinity
- Gods Unchained
- The Sandbox
- Splinterlands
- My Neighbour Alice
- CryptoKitties
- Illuvium
- Decentraland
- Coinfantasy
- Alien worlds
Conclusion
The gaming industry is a continuously evolving one. Each year we see drastic changes happening in the gaming trends and gaming industry. 21st-century gamers are shifting their focus from traditional games and moving towards play-to-earn games. Tap-to-earn games are the next big thing in the gaming industry. Telegram messaging app provides a lot of tap-to-earn games that too can earn real-world assets.
Tap-to-earn games too are based on blockchain technology and gamers can earn cryptocurrencies and NFTs as rewards for the successful completion of in-game activities and specific tasks. The coins and tokens we get from tap-to-earn games can also be traded and exchanged.
